July Home Sales Up with 5% Increase in Average Sale Price

YOUNGSTOWN, Ohio — In July, the regional housing market saw a 5% jump in the average sale price over the previous month, and is ahead of the same time last year.

In the 18-county statistical area that includes Mahoning, Columbiana and Trumbull counties, Yes-MLS.com reports the average sale price was $208,453, a 5% increase over June, and 6.5% over July 2019 when the price was $195,789.

New listings also increased 1.8% from June to 6,062, though dropped 4.9% from 6,377 in July 2019. Sold listings jumped 19.4% month-over-month to 5,130, and were up 11.1% from 4,619 the same time last year.

The region also saw substantial growth in the dollar volume sold in July at $1,069,366,702, a 25.3% increase from June. It was also up 18.3% from July 2019 when dollar volume sold was $904,352,954.

In the Mahoning Valley, statistics mirrored the regional trends. Mahoning County led the area in average sale price in July at $152,463, up from $143,457 in June. It was also up 16.4% from $130,986 in July 2019.

There were 285 listings sold in the county in July, up substantially from 178 sold in June, and up 5.6% from 270 sold the same time last year. The county reported 339 new listings, up from 319 in June, but down from 366 in July 2019.

Columbiana County posted the next highest average sale price at $137,265, up from $117,706 in June and up 4.5% from $131,302 in July 2019.

The county saw the same number of sold and new listings at 113, compared to 87 single-family listings sold in June and 123 listed that month. New listings were down from 123 in June and dropped 21% from 143 in July 2019.

Trumbull County’s average sale price increased to $125,240 from $118,008 in June, and was up slightly from $121,442 in July 2019.

New listings reached 279 in July, up from 253 in June, and up slightly from 273 in July 2019. The county reported 215 listings sold last month, up from 198 sold in June, and up 8.6% from 198 sold in July 2019.

Copyright 2022 The Business Journal, Youngstown, Ohio.